Legislation roundup: Commercial bribery, outbound investment, and automobile loans
November 09, 2017 | BY
Katherine Jo &The Anti-unfair Competition Law has clarified corporate liability for employee misconduct, the NDRC has proposed simplified outbound approval procedures, and auto loan ratios have been raised for alternative energy vehicles
Competition Law
PRC Anti-unfair Competition Law
If a member of the working personnel of a business operator engages in bribery, the same shall be deemed to be an act of the business operator, unless the business operator has evidence to show that the act by such member of its working personnel has no connection with seeking trading opportunities or a competitive advantage for the business operator.
Further reading
Outbound
National Development and Reform Commission, Measures for the Administration of Outbound Investment by Enterprises (Draft for Comments)
With respect to an overseas acquisition or bid project the investment of the Chinese party in which is at least US$300 million, the investment entity is no longer required to submit a project information report to the NDRC before it commences substantive work dealing with third parties.
Further reading
Financing
People's Bank of China and China Banking Regulatory Commission, Circular on Revising Relevant Automobile Loan Policies
The maximum ratios for the extension of automobile loans for conventionally powered vehicles for own use, conventionally powered vehicles for commercial use, alternative fuel vehicles for own use, alternative fuel vehicles for commercial use and used vehicles are 80%, 70%, 85%, 75% and 70%.
Further reading
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